Turnover and Price in the Housing Market: Causation, Association or Independence?
AbstractWe give general conditions for the data generating process to facilitate the testing of structural dependence of turnover on the average (or median) price in the homogenous housing market. Furthermore, the implications of aggregation over sub-markets is studied. A plausible explanation of the disparate empirical findings in this literature may be aggregation over heterogenous sub-markets. This conclusion is supported by empirical findings using longitudinal quarterly data for 289 Swedish municipalities during 1981:1-2000:2.
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Bibliographic InfoPaper provided by Uppsala University, Department of Economics in its series Working Paper Series with number 2002:12.
Length: 27 pages
Date of creation: 14 May 2002
Date of revision:
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Postal: Department of Economics, Uppsala University, P. O. Box 513, SE-751 20 Uppsala, Sweden
Phone: + 46 18 471 25 00
Fax: + 46 18 471 14 78
Web page: http://www.nek.uu.se/
More information through EDIRC
Aggregation bias; House price; Volume of trade; Search;
Find related papers by JEL classification:
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- D10 - Microeconomics - - Household Behavior - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-06-13 (All new papers)
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